New Mexico Student Loans,
1 NEW
AMS Education Loan Trust (833067) - Swansea, MA.
800-637-3060. (Federal Stafford Loans, PLUS loans for parents
Bank of America (806746) - Brea, CA. 800-344-8382.
(Stafford loans, PLUS loans)
Bankers Fidelity Life Insurance Co. (827057) - Atlanta, GA.
404-266-5703. (Stafford, PLUS)
MBNA America (Delaware) N.A. (833772) - Wilmington, DE.
888-272-5543. (Federal Stafford, PLUS)
Texas Independent Bank (831122) - Irving, TX. 800-288-4842 or
800-343-5904. Stafford, PLUS loans
Visit our page of all
school lenders.
New Mexico Student Loans
The Stafford loan program is backed by the U.S.
Department of Education. Borrowers must first fill out a
Free Application for Federal Student Aid (FAFSA) to
receive a loan. As a bonus, New Mexico students who
demonstrate financial need may also be awarded a state
or federal loan when applying for their loan. In some
cases, for those who apply directly after the first of
the year, you can receive both grants.
Borrowers must have U.S. citizenship and maintain
satisfactory academic performance to qualify for a
student loan. Loans are applied for on an annual basis
and increase each year. Both undergraduate and graduate
students can borrow money for school. Depending on
financial need, borrowers may also qualify for a
subsidized loan.
Through the Department of Education’s PLUS Loans
program, parents can also qualify for a loan so they may
assist with funding their child’s college tuition, room
and board and other associated fees. PLUS Loans do
require credit approval and, unlike the Stafford loans,
repayment starts 30 to 60 days after the money has been
dispersed.
Finally, students can apply for a loan through a private
agency. This option often helps to cover educational
expenses not paid for by grants, scholarships or Direct
Loans.
Additional New Mexico educational information:
Executive Director,
Commission on Higher Education
1068 Cerrillos Road
Santa Fe, NM 87501-4295
(505) 827-7383
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